Loading...
Loading...
We knew it was coming. Groupon's prospective IPO has been the talk of the town ever since Google
GOOGattempted to acquire the daily deal organization last fall. The reports were
all but daily, with every rumor indicating that Groupon would be sold to the search engine giant.
Groupon could have done
many things for Google, so much so that it was believed that
another search giant wanted to acquire the firm.
But Groupon
stayed independent, inspired a host of
new competitors – including variations from the
makers of Windows and political commentator
Glenn Beck – helped Eric Lefkofsky (one of Groupon's founders) make the
Forbes 400 billionaires list, and earned
big bucks last year.
Earlier this year, Groupon
announced its plans to expand its staff in China.
The biggest news, however, came when reports surfaced that Goldman Sachs'
CEO, Lloyd Blankfei,
met with Groupon to discuss its IPO. At the time, Morgan Stanley
Loading...
Loading...
was also said to be in talks with Groupon.
Today, the news is official. The company that's known for delivering
unprecedented deals has
filed a $750 million IPO. According to Bloomberg, this IPO will make it easier for Groupon to make
big acquisitions.
But corporate owners and execs are not the only ones who will benefit. Groupon has also stated that every full-time employee will
own equity in the firm.
“We are very good at knowing what we're not good at,” Brad Keywell, one of Groupon's founders, told Benzinga
last December. “We understand what we're not good at and we try to avoid those things.”
Needless to say, this has been a very successful strategy for Keywell, who, along with Lefkofsky and Andrew Mason, took Groupon from a clever concept to an international powerhouse. The company's IPO proves that Groupon made the
right decision when it chose to reject its many buyout offers.
Groupon's IPO comes before the highly anticipated
Facebook IPO but follows the
heavily hyped LinkedIn
LNKD IPO. The company's proposed stock symbol is GRPN.
Stay tuned to Benzinga for further updates on Groupon's initial public offering.
Loading...
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Long IdeasShort IdeasMovers & ShakersIPOsSuccess StoriesStartupsAnalyst RatingsTrading IdeasGeneralandrew masonBloombergbrad keywelleric lefkofskyFacebookFinancialsForbes 400 billionaires listGrouponInformation TechnologyInternet Software & ServicesInvestment Banking & BrokerageLinkedInLloyd Blankfei
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in